A billionaire buccaneer from Wall Street declared war on Argentina yesterday, seizing the flagship of its navy in a decades-long battle over the country’s bonds, which sank in a 2001 financial collapse.

Paul Singer who runs the $15 billion New York hedge fund Elliott Capital Management, claims Argentina is in hock to him for some $1.6 billion.

Elliott’s Cayman Islands subsidiary, NML Capital, convinced a court in Ghana to detain the $10 million ARA Libertad when it docked in the African nation.

Sources said Singer has been following the course of the tall ship as it sailed around the world, carrying more than 200 people, including about 70 cadets in training.

He thought the courts in Ghana would be the most sympathetic, and they were.

A judge there ordered the ship held until Argentina posts a bond for an undisclosed amount of money.

Singer is now poised to own the ship or collect the value of the bond.

Argentina fired off a press release, thundering that it was the victim of “a sneak attack of the vulture funds.’’

It described its ship’s new owner as an “unscrupulous financier.”

“This measure is a violation of the Vienna Convention on diplomatic immunity,” it said.

Most other bondholders settled with the South American nation for 30 cents on the dollar when its economy collapsed.

Singer is among a handful of creditors who demanded face value.

The dispute has been winding its way through courts in the United States and the United Kingdom, which owns the Caymans.

Singer has been awarded the full $1.6 billion by some estimates — but so far, he hasn’t been able to collect a farthing.

The change of command in Africa was not a happy ceremony.

“It’s impossible to imagine then that one of the most important symbols of the Argentine navy would be detained at the port of Tema, Ghana, over a judicial order,” fumed Capt. Carlos Alievi.

A spokesman for Elliot declined to comment.

A spokeswoman for the State Department tried to dodge the bullets.

“This has nothing to do with the State Department, so we have nothing for you,” she told a reporter.